The global trend is gradually shifting away from dependency on fossil fuels toward renewable energy. This transition is crucial not only for environmental preservation but also for ensuring economic stability. Renewable energy refers to energy sources that are naturally replenished through ongoing processes in nature and can be utilized repeatedly within short intervals. Examples include solar energy, wind energy, hydropower, and biogas. While renewable energy holds immense potential to address climate change threats and meet electricity demands in Bangladesh, several challenges interrupt its growth.
Due to its geographical location, Bangladesh is a country with significant potential for harnessing renewable energy. Situated near the equator, Bangladesh receives an average of 4.5 kilowatt-hours per square meter of solar radiation daily. As a result, among the various types of renewable energy sources, solar power emerges as the most promising. According to the World Bank's solar resource map, regions in the southern parts of the country, coastal islands, and hill tracts receive higher solar radiation, making them more suitable for solar energy production. It is estimated that Bangladesh could achieve up to 240 gigawatts of electricity generation from solar energy systems.
As per the 2024 report by the Sustainable and Renewable Energy Development Authority (SREDA), Bangladesh currently produces 1,084.55 megawatts of electricity from solar energy, which accounts for only 3% of the country's total power generation capacity. According to a 2023 analysis by the South Asian Network on Economic Modeling (SANEM), Bangladesh ranks lowest in the use of renewable energy among South Asian countries. Data from Energy Tracker Asia highlights that Bangladesh is excessively reliant on fossil fuels for electricity generation. For example, neighboring countries like India and Pakistan generate 23% and 43% of their electricity, respectively, from renewable sources, while in Bangladesh, this figure is only 2-3%.
The Renewable Energy Policy of 2008 aimed to generate 5% of the country's electricity from renewable sources by 2015 and 10% by 2020. However, due to insufficient political commitment, inadequate investment, and imprecise policies, these targets remain far from being achieved. The draft National Solar Energy Roadmap has set an ambitious target of producing 40% (24,000 megawatts) of electricity from renewable sources by 2041. Experts believe that while this goal is challenging, it is not impossible. Vietnam, for instance, managed to generate 16,000 megawatts of solar power within just two years. Thus, achieving the target requires political will and coordinated efforts.
Excessive reliance on fossil fuels may lead to increased costs in business and daily life, potentially triggering severe economic crises in the future. According to the energy department, without the discovery of any significant new natural gas reserves (which is unlikely), and if current consumption continues, Bangladesh's natural gas reserves could be depleted between 2025 and 2031. This would compel reliance on imported liquefied natural gas (LNG), which is expensive given current global prices. Moreover, fossil fuel consumption adversely impacts the environment.
In contrast, transitioning from fossil fuels to renewable energy can significantly reduce greenhouse gas emissions, slowing the pace of climate change. Fossil fuel emissions contribute to respiratory diseases and other health issues, which can be mitigated through renewable energy use. Investment in renewable industries also creates new job opportunities. Additionally, renewable energy plays a crucial role in enhancing energy security and achieving cost savings. Experts suggest that installing just two gigawatts of renewable energy could save $1.1 billion annually in fuel import costs. Therefore, reducing dependence on fossil fuels and expanding renewable energy is imperative to counter fossil fuel price volatility, declining foreign currency reserves, and depleting gas fields.
However, the transition to renewable energy is not without challenges. These include the need for substantial upfront investment in renewable energy projects, which neither the government nor financial institutions currently show adequate interest in, limiting progress in this sector. The storage of renewable energy requires advanced battery systems, which are still relatively expensive. Solar energy projects, in particular, require large tracts of land, potentially affecting settlements and agricultural land.
For the advancement of this promising sector, it is crucial to implement visionary, transparent, and sustainable plans. Studies indicate that using just 4% of the country's total land area could meet national electricity demands through renewable energy. To address land shortages, installing solar panels on rooftops, implementing floating solar energy projects, and using smart grid technologies could provide effective solutions. To boost financing and investment, international collaboration and private sector involvement need to be encouraged. Establishing climate funds to provide soft loans and government subsidies for renewable energy projects could also be beneficial. Technological advancements such as introducing smart grids and improved battery technologies are essential. Moreover, investment in skill development, raising public awareness about renewable energy, and ensuring active roles for educational institutions and media are crucial.
Renewable energy is essential not only for meeting the country's electricity demands but also for addressing climate change risks and ensuring economic security. Reducing dependency on fossil fuels and promoting renewable energy requires coordinated efforts among the government, private sector, and citizens. If Bangladesh can achieve its planned renewable energy production targets, it will not only strengthen its economy but also lead the way toward environmentally sustainable development. Therefore, addressing the challenges of renewable energy is essential for national interest and progress.
The writer is a Student, Department of Computer Science and Engineering, University of Rajshahi
